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20130101
20130131
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KCSM (PBS) 1
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imposed on itself had already passed, but it did not cause any real harm because important ro financial markets remained closed on new year's day. automatic tax increases could have pushed u.s. back into economic recession -- pushed the u.s. back into economic recession. tax rates will go up for only those earning over $400,000. in herington is -- inheritances over $5 million will also be heavily taxed. president obama immediately left washington to rejoin his family in hawaii, but the next battle is already in view. in the next two months, congress will need to raise the debt limit to allow treasury to borrow more money and it must agree on spending cuts to reduce the deficit. >> for more analysis, we are joined by our washington correspondent. lawmakers have voted what many -- have averted what many believe would have been an economic disaster. what is the public reaction? >> i think the vast majority of americans would like to see a little bit less trauma and maybe a little more willingness to compromise on a bipartisan -- drama and maybe a little more willing this to compromise on a
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